Bitcoin price forecasts by well-known personalities

The factor of when Bitcoin should reach a certain price is of great importance in all of this. A price target of USD 100,000 per Bitcoin, for example, may sound attractive at first, but if this mark is only reached in ten years, the annualized return would only be around 4.5% at a current Bitcoin price of around USD 64,000. This increase would be correspondingly below the average stock market return and might not even be able to beat inflation.

So, what price targets are well-known personalities calling out?

Tom Lee, co-founder and head of research at Fundstrat Global Advisors, is a well-known analyst. Lee also contributes as an expert to CNBC 's Fast Money show.

A few months before the Bitcoin spot ETFs were approved in the US, he was already certain that they would be a catalyst for sharply rising prices.

If the Bitcoin spot ETF is approved, I think the demand for Bitcoin will outstrip the supply and the market-clearing price [...] will be over $150,000 - it could be as high as $180,000.
_{Tom Lee to CNBC}

A few weeks after the approval, Lee emphasized once again that Bitcoin could still reach this short target this year.

I think it could be up to 150,000 [US dollars per Bitcoin] this year.
_{Tom Lee told CNBC}

The analyst cites the high demand for Bitcoin via ETFs, the supply shortage due to halving and the expected monetary easing or interest rate cuts by the US Federal Reserve as reasons.

US venture capitalist and billionaire Tim Draper has already hit the mark once with a Bitcoin price prediction. In 2013, with the price of Bitcoin at USD 180, Draper was asked by Fox Business where he saw the price in three years' time. The billionaire replied at USD 10,000 and almost exactly three years later, Bitcoin broke this mark for the first time.

Ultimately, however, as Draper himself admits, this was a stroke of luck. In the 2018 bear market, Draper tried to hit the bull's eye again and, at a price of USD 4,000, he predicted that Bitcoin would reach USD 250,000 in 2022, but he was ultimately way off the mark.

Draper justified himself by saying that he had not expected so much resistance from US bureaucrats. Now that, according to him, "the strong leaders are coming back" and recognizing that "Bitcoin is good for the country and the global economy", the billionaire is all the more optimistic. According to Draper, weak leaders are those who "try to control people with their fiat currencies".

Accordingly, Draper believes it is possible that Bitcoin will reach the price he predicted at the time this year - also fueled by halving, which the billionaire identifies as a clear price driver.

When investing in the stock market, it's "don't bet against the Federal Reserve". If you're a Bitcoin buyer, it's "don't bet against the Halving". This thing changes everything: supply goes down, demand goes up, price goes up. That's the natural economic interplay of supply and demand.

If I had to make a prediction: maybe 250,000 US dollars by the end of the year. I think it looks very good.
_{Tim Draper to Cointelegraph}

Well-known hedge fund manager and author Anthony Scaramucci is a big Bitcoin bull. Scaramucci was also the White House communications director in 2017, but was fired by Trump after just a few days for making negative comments about the Trump administration. The hedge fund manager is also arguably involved in the fact that the world's largest asset manager, BlackRock, has pounced on Bitcoin and launched a spot ETF.

Scaramucci claims that he urged BlackRock CEO Larry Fink to take a closer look at Bitcoin when he was still critical of the asset, which Fink probably did. The investment company SkyBridge Capital, founded by Scaramucci, was also the first investor in BlackRock's Bitcoin ETF. Since BlackRock first needed outside capital to even apply for approval due to the company's bureaucratic rules, SkyBridge Capital transferred 10 million US dollars.

Scaramucci, who sees Bitcoin as a digital store of value, is optimistic about the further price development in this cycle. According to him, Bitcoin spot ETFs and halving are positive catalysts that some market participants are underestimating.

I think [Bitcoin] goes to $170,000 by the end of the cycle.
_{Anthony Scaramucci to CNBC}

Longer term, by 2030, Scaramucci predicts that Bitcoin could reach at least half the market capitalization of gold, which would result in a Bitcoin price of around $380,000 , assuming the precious metal remains at its current market value.

Gold is a 16 trillion asset and Bitcoin has a lot of the same characteristics as gold. I would even say that Bitcoin is better than gold because it is easier to transport. Bitcoin should be worth at least half of that.
_{Anthony Scaramucci to CNBC}

Adam Back, Cypherpunk and inventor of the Proof of Work, also approaches his price forecast by comparing it with gold. According to the Blockstream CEO, Bitcoin could overtake the precious metal in terms of market capitalization as early as this cycle, i.e. in 2024 or 2025.

As gold has risen considerably in value since the time of the tweet, it would currently take a Bitcoin price of USD 760,000 for the digital asset to catch up with the precious metal.

Adam Back is often wrong with his bullish forecasts. In August 2023, at a price of around USD 30,000 per BTC, he placed a bet that Bitcoin would reach USD 100,000 by March 31, 2024. Although the direction was right, he lost this bet.

The star investor and founder of ARK Invest has been very optimistic about the price development of Bitcoin for many years. A few months ago, Wood announced that, according to her company's analyses, Bitcoin could rise to USD 600,000 in the less optimistic case, but could even reach USD 1.5 million by 2030 if positive developments continue.

Cathie Wood's forecast is based on the disruptive nature of Bitcoin and the innovation of being the first global, decentralized and rule-based monetary system. Wood reiterated her optimistic price target to CNBC shortly after the approval of Bitcoin spot ETFs earlier this year.

Our base case is in the $600,000 range. Our bull case - and I think the probability of that bull case has increased with the SEC approval - is $1.5 million by 2030.
_{Cathie Wood to CNBC}

According toreports, the star investors at the Bitcoin Investors Day in New York even adjusted the optimistic price target upwards to 3.8 million US dollars.

The well-known author of the bestseller Rich Dad Poor Dad, which has sold around 40 million copies, has also outed himself as a Bitcoin bull in the past. The Hawaiian, who has also built up his fortune with credit-financed real estate, sees Bitcoin, like precious metals, as protection against the devaluation of paper money and predicts strong price gains for the asset in the near future.

A few days ago, Kiyosaki also commented on 𝕏 ARK Invest's calculation that if institutional investors put just under 20 percent of their assets into Bitcoin, the price would be USD 2.3 million per BTC. The well-known author stated that he also believes in a Bitcoin price of 2.3 million US dollars.

Michael Saylor, the founder of the first public limited company to pursue an all-in Bitcoin strategy, is probably as bullish on Bitcoin as you can get. However, the billionaire doesn't really give concrete price forecasts, so it's important to read between the lines.

The MicroStrategy founder said a few weeks ago that he thinks Bitcoin would not be overvalued at a market capitalization of one hundred trillion US dollars, as digital property is actually worth many times that amount. At a market value of one hundred trillion US dollars, one Bitcoin would cost just under 5 million US dollars, but Saylor implies that Bitcoin is likely to rise much further.

Bitcoin is digital property. What is digital property worth? Several hundred trillion US dollars. Is Bitcoin overvalued? Not yet, Bitcoin is at one trillion US dollars. If Bitcoin is worth a hundred times as much as it is now, is it overvalued? Probably not. It will probably still perform better than anything else you can buy. Why? Because it's better than anything else you can buy.
_{Michael Saylor in an interview}